The crypto market remained on edge this week, even after the 12-day war in Iran ended. Bitcoin remained in a tight range around the $107,000 level, while most altcoins plunged. This article provides a forecast for top crypto prices like Ripple (XRP), Livepeer (LPT), and Quant (QNT).
XRP price technical analysis
XRP, one of the most popular cryptocurrencies, remained on edge this week as investors waited for another catalyst. It remained slightly below the 50-day moving average, and is now slowly forming a symmetrical triangle pattern whose two lines are about to converge.
XRP’s triangle pattern has formed after the token surged by triple digits in November last year. This means that it is part of the bullish pennant pattern, a popular continuation sign in technical analysis.
Further, XRP price remains at the strong pivot reverse point of the Murrey Math Lines. It has also formed an inverse head and shoulders pattern.
Therefore, the XRP price will likely have a strong bullish breakout in the coming days, with the next point to watch being the psychological point at $2.5. A move above that price will point to more upside, potentially to the year-to-date high of $3.38.
The risk, however, is if the XRP price drops below the lower side of the triangle at $1.80. Such a move will lead to more downside over time.
Livepeer price technical analysis
Livepeer is a top cryptocurrency project at the intersection of video and artificial intelligence. It uses a decentralized computing model that enables users to share their resources to simplify the streaming process.
Livepeer price jumped sharply last month after being listed on Upbit, the biggest crypto exchange in South Korea. These gains were shortlived as the token crashed from last month’s high of $14.23 to the current $5.90.
The daily chart shows that the Livepeer price has remained below the 50-day moving average. It has also dropped below the important support level at $8.43, its lowest level on August 5 last year.
Therefore, the most likely situation is where the LPT price continues falling as sellers target the next key support level at $3.30, the lowest point this year. A move above the key resistance level at $8.43 will invalidate the bearish Livepeer forecast.
Quant price prediction
Quant is a top utility crypto project in the financial services industry. Its main product is known as Overledger and is used by top companies like Hitachi and Oracle. It is also part of the ongoing creation of the digital euro project by the European Central Bank (ECB).
Overledger ensures interoperability between different blockchains and traditional systems, acting as the gateway that facilitates communication, data transfer, and asset exchanges across multiple distributed ledger technologies (DLT).
Quant price rose to $105,20 on Saturday, and is slightly below the important resistance level at $120. It has formed a cup-and-handle pattern, a popular continuation signs in technical analysis.
Quant is now forming the handle section and has already moved above the 50-day moving average. Therefore, the most likely scenario is where it bounces back to the upper side of the cup at $120.
This cup has a depth of about 70%. Measuring the same distance from the upper side brings the eventual Quant price target to $180.
The post Top crypto price predictions: XRP, Livepeer (LPT), Quant (QNT) appeared first on Invezz
